Accounting Office

Direct Deposit

The Business Office is now offering electronic Direct Deposit to all students and employees for out of pocket expenses.

Effective June 1, 2012.

Employee Reimbursements

All employee reimbursements are eligible for this direct deposit program. Any employee wishing to participate in the program can enroll online through WebAdvisor using Willamette Login and Password.  


Student Reimbursements

Students who are on direct deposit of their student refunds are also eligible for direct deposit service. Interested students who are not on direct deposit can also enroll through WebAdvisor using their Willamette Login and Password.


Exceptions

There are certain limited circumstances under which payment by paper check rather than direct deposit is necessary or justified, including:

Foreign Nationals

Because U.S. financial institutions generally require a valid SSN for mandatory federal reporting purposes, foreign nationals who experience a waiting period before being issued a SSN may encounter difficulty in opening an account with a U.S. financial institution. Such individuals will be paid by paper check.

International ACH Transaction (IAT)

Willamette University is obligated to comply with the requirements of the United States Department of Treasury Office of Foreign Assets Control (OFAC), which oversees payments sent outside the territorial jurisdiction of the United States. This includes automated clearing house (ACH) payments, such as direct deposits of payments to students or employees. Effective September 18, 2009,  the National Automated Clearinghouse Association (NACHA) requires all direct deposit payments that are (1) made by the University to a financial institution located outside the U.S. or (2) made by the University to a domestic financial institution if that financial institution immediately transfers the full deposit amount to a financial institution outside the U.S. in a “back-to-back” transaction to identify as an “International ACH Transaction” (IAT).

At this time the University is unable to process direct deposit records coded as IATs.  Therefore, payments that must be coded as IATs will instead be processed using paper checks. Click here for IAT Rules & Compliance.

Reimbursements over $10,000.00

Employees who have reimbursements greater than $10,000 will not be able to receive their reimbursements via direct deposit.  Willamette University internal controls require these to be reimbursed via paper check.


Effective Date

Your first direct deposit will take effect two weeks after you first signed up. This is to make sure that the routing & account number you provided on WebAdvisor is verified for validity. Note: It is the employee’s responsibility to review the accuracy of personal information and payment information & to notify the Accounting Office when there is any change to their bank account that affects their direct deposit.


Payment Notifications

All notifications to direct deposit recipients are made via e-mail. When the direct deposit participant establishes the service, they are asked to provide an e-mail address.


Disbursement Schedule

If for some cases the check needs to be specially handled, please contact the Accounting Office.

Questions regarding this service should be directed as follows: